Bitwise files S-1 for NEAR ETF
Bitwise has filed to list a spot Near exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC), aiming to track the NEAR token's price movements. Coinbase Custody is proposed as the custodian for the ETF. A 19b-4 filing with the SEC is required to initiate the approval process. The SEC currently has over a dozen spot crypto ETF applications to review for 2025, including those for Litecoin, Dogecoin, Solana, and others. Bitwise has existing applications for spot DOGE, SOL, and XRP ETFs and has approved spot Bitcoin and Ether ETFs listed on NYSE Arca, which have attracted $2.35 billion in net inflows. NEAR, the 44th largest cryptocurrency with a market cap of $2.73 billion, is known for its scalability and security features, processing up to 100,000 transactions per second through Nightshade sharding. The Near ecosystem is transitioning from decentralized finance to AI infrastructure in 2024.
